Here is today's summary of economic development news, a free service of the Economic Development Partnership of Alabama, representing Alabama's private sector investment in economic development. If you enjoy NewsFlash, thank an
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The U.S. Air Force has tapped Montgomery's Maxwell Air Force Base to receive $18 million for a new air traffic control tower.

Construction is expected to begin next June and finish in December 2020.

The tower, which will be built for "force protection and safety," officials said, follows last year's decision by the Air Force to select Dannelly Field, also located in Montgomery, as a
site for the new F-35A fighter jet program.

LANETT - If you have a great idea for a business but don't have the funds to get it off the ground, a regional startup competition in the Greater Valley Area could be the remedy to your problem.

Arndt Siepmann, director of industrial development and Lucian Bifano, director of entrepreneurship strategy at Auburn University, stopped by the Greater Valley Area Chamber of Commerce office Tuesday to discuss the 2018-19 Auburn Regional Alabama Launchpad Startup Competition. The competition gives individuals interested in starting a business the chance to compete for $50,000 in prize money for the best ideas.

In front of hundreds of business executives, development officers, and elected leaders from across the Southeast U.S. attending a premiere international business conference in Toyko in October, Toyota's senior officer made a statement that quieted the room.

Tetsuo Ogawa said the main reason Toyota chose Huntsville as the site for its new Mazda joint venture was because of the company's long and successful relationship with our community.

If anyone ever wondered why we travel across the world to attend a conference, this is the penultimate explanation. It simply boils down to relationships, just as Mr. Ogawa said.

Randall-Reilly is a data company in trucking, construction, agriculture and other industrial markets. In addition to its headquarters in Tuscaloosa, the company also has offices in Anniston, Charlotte and Draper, Utah.

Sales: According to
ValleyMLS.com, Huntsville-area home sales totaled 654 units during September, up 10.5 percent from 592 sales in the same month a year earlier. September sales were down 12.3 percent compared to 746 sales in August. Results were 26.7 percent above the five-year September average of 592 sales. Two more resources to review:
Quarterly Report and
Annual Report.

Inventory: Homes listed for sale in the Huntsville area during September totaled 1,646 units, a decrease of 25.3 percent from September 2017's 2,204 units, and a decrease of 3.1 percent from August 2018's 1,698 units. Huntsville also experienced a year-over-year decline in months of supply. September months of supply totaled 2.5 months, a decrease of 32.4 percent from September 2017's 3.7 months of supply. However, September's months of supply increased from August's 2.3 months of supply.